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Share price

958 p
10:36AM 21 Jan 2021

Net Asset Value

1,127 p
As of 31 Jul 2020
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Key information document (KID)

In this section

This document provides you with key information about this investment product. It is not marketing material.

The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this product and to help you compare it with other products.

Download Key Information Document PDF (0.18Mb)

PRIIPs Regulation Key Information Document

Under the EU’s Packaged Retail and Insurance-based Investment Products (‘PRIIPs’) Regulation, ICG Enterprise Trust is required to produce a Key Information Document (‘KID’) setting out prescribed information regarding its ordinary shares.

The performance and costs disclosures contained in the KID and the methods by which they are calculated are strictly prescribed by the PRIIPs Regulation and differ from the ways in which ICG Enterprise presents its own financial information. It may therefore be helpful to investors to understand these differences:

Performance

The purpose of a KID is to provide retail investors with standardised illustrations of theoretical risk and returns to enable the comparison of different investment products available across a very wide range of financial sectors.

  • In the case of investment trust companies, these illustrations are based on daily share prices with dividends reinvested (“Total Shareholder Return”) over the previous five years, which are then projected forward over various time periods and adjusted for risk.
  • The KID presents stress, unfavourable, moderate and favourable performance scenarios which are derived from Total Shareholder Return.
  • In recent years, equity markets have however experienced a period high returns and low volatility, which under the KID’s prescribed methodology could lead to projections which are potentially over-optimistic. We would therefore remind investors that past performance is not a reliable guide to future returns.
  • ICG Enterprise Trust measures its actual performance by its net asset value per share total return (‘NAVTR’). The NAVTR includes all of the components of the Company’s performance. We believe it remains the most appropriate measure of the success of the investment strategy and how the portfolio is managed and will continue to report our actual performance on this basis.
  • The Total Shareholder Return will differ from the NAVTR depending on the movement in the share price discount to NAV per share.
  • Further information on the Company’s NAVTR can be found in the Results and Reports.

Costs

  • The KID presents a table of costs which are not included within ICG Enterprise Trust’s ongoing charges ratio, a measure of expenses prepared in accordance with guidance published by the Association of Investment Companies and broader market practice.

Please see table below for a summary of the differences between the KID costs and the Company’s ongoing charges.

  Ongoing charges KID
 Direct costs    
-  Management fee  Yes – 1 year basis  Yes – 1 year basis
 - Company running costs  Yes – 1 year basis  Yes – 1 year basis
 - Performance fee  No  Yes – 5 year average
 - Financing costs  No  Yes – 1 year basis
 - Transaction costs payable to third parties  Yes – 1 year basis    Yes – 3 year average
 Indirect costs    
 - Fees payable to underlying managers of funds the Company invests in No   Yes – 1 year basis
 - Performance fees payable to underlying managers of funds the Company invests in  No   Yes – 5 year average
 - Transaction costs payable to third parties  No   Yes – 3 year average
Shareprice Net Asset Value

Share price (ICGT)

958p
7.90P (0.83%)
10:36AM 21 Jan 2021
The share price information is delayed by at least 15 minutes
Share price information

Net Asset Value

1,127p
As of 31 July 2020
Next update: January 2021 – Q3 results
NAV information
Year Net assets NAV per share Share price Dividends per share
Jan 2020 £794m 1,152p 966p 23p
Jan 2019 £731m 1,057p 822p 22p
Jan 2018 £664m 959p 818p 21p
Jan 2017 £613m 871p 698p 20p
Jan 2016 £521m 731p 545p 11p
Jan 2015 £507m 695p 575p 15.5p
Jan 2014 £494m 677p 563p 15.5p
Jan 2013 £460m 631p 487p 5p
Jan 2012 £415m 569p 357p 5p
Jan 2011 £389m 534p 308p 2.25p
Dec 2009 £338m 464p 305p 2.25p
Dec 2008 £327m 449p 187p 4.5p

Disclaimer

The information contained herein and on the pages that follow does not constitute an offer to sell, or the solicitation of an offer to acquire or subscribe for, any securities in any jurisdiction where such an offer or solicitation is unlawful or would impose any unfulfilled registration, qualification, publication or approval requirements on ICG Enterprise Trust PLC (the "Company") or its affiliates or agents. Equity securities in the Company have not been and will not be registered under the applicable securities laws of the United States, Australia, Canada, Japan or South Africa (each an “Excluded Jurisdiction”). The equity securities in the Company referred to herein and on the pages that follow may not be offered or sold within an Excluded Jurisdiction, or to any U.S. person ("U.S. Person") as defined in Regulation S under the U.S. Securities Act of 1933, as amended (the "U.S. Securities Act"), or to any national, resident or citizen of an Excluded Jurisdiction.

The promotion of the Company and the distribution of this website and the materials contained by it in the United Kingdom are restricted by law. Accordingly, this website and any materials contained by it should only be accessed by, and are directed only at:
(i) persons outside the United Kingdom to whom it is lawful to communicate to; or
(ii) persons having professional experience in matters relating to investments who fall within the definition of "investment professionals" in Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (as amended) (the “Order”); or
(iii) high net worth companies, unincorporated associations and partnerships and trustees of high value trusts as described in Article 49(2) of the Order, provided that in each case the website and any materials in are only directed at persons who are "qualified investors" as defined in article 2(1)(e) of Directive 2003/71/EC (as amended) (the "Prospectus Directive") ("Relevant Persons"). Accordingly, this website does not constitute, and does not contain the information required to be contained in, a prospectus as required under the Prospectus Directive.

This website is communicated by ICG Alternative Investment Limited (“ICG AIL”), which is authorised and regulated by the UK Financial Conduct Authority. In communicating this website ICG AIL is acting for the Company and is not responsible for advising persons viewing this website or any other person, or for providing them with the protections which would be given to those who are clients of ICG AIL under the rules of the FCA.
The information on the pages that follow may contain forward looking statements. Any statement other than a statement of historical fact is a forward looking statement. Actual results may differ materially from those expressed or implied by any forward looking statement. The Company does not undertake any obligation to update or revise any forward looking statements. You should not place undue reliance on any forward looking statement, which speaks only as of the date of its issuance.

Your access to this website is governed by the above terms. The Company may change these terms. The changes will be posted on the website. Your access to this website is governed by the version of these terms then in force.

By clicking "I understand and agree" below, you represent, warrant and agree that you (1) have read and understood these terms and the other information set out above, (2) agree to be bound by the terms, (3) do not have a registered address in, and are not resident or located in, an Excluded Jurisdiction (or, if you do, you will not seek to make any investment in the securities of the Company), (4) are not a U.S. Person or a national, resident or citizen of an Excluded Jurisdiction (or, if you are, you will not seek to make any investment in the securities of the Company), (5) are permitted under applicable laws and regulations to receive the information contained in the pages that follow, and (6) agree that you will not transmit or otherwise send any information contained in this website to any person in the United States or to any U.S. Person for the purpose of that person considering an investment in the securities of the Company, or to any publication with a general circulation in the United States.
If you cannot so certify and agree, you must click the button labelled "I decline" or otherwise exit this website.

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